Reuters: Agreement reached to sell Deutsche Bahn to Schenker AG
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The German government has reached an agreement with Deutsche Bahn that its logistics division Schenker AG could be sold. According to Reuters citing people familiar with the matter, the supervisory board of Deutsche Bahn, a 100% state-owned company, should approve the sale of Schenker AG as soon as possible, possibly as early as this year.
Banking experts cited by Reuters estimate Schenker at €12-20 billion. The agency’s sources indicate that in the next two months, banks may be involved in the process of preparing the sale of the company. Both a direct sale of the company and an initial public offering on the stock exchange will be considered. At the same time, according to sources, there is no rush in the sale, it may well be carried out in 2024.
The idea of selling Schenker AG was put forward by the German coalition government led by Chancellor Olaf Scholz. Members of the coalition, notes Reuters, believe that Deutsche Bahn is better to focus on passenger and freight traffic in Germany. Schenker, founded in 1872, became a division of Deutsche Bahn in 2003. It now has 75,000 employees worldwide and accounts for more than a third of Deutsche Bahn’s revenue. The company is engaged in the transportation of goods by land, air and sea. In the first half of 2022, Schenker’s operating income was €1.2 billion.
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